Truist Financial Cuts Onsemi (NASDAQ:ON) Price Target to $52.00

Onsemi (NASDAQ:ON) had its price objective reduced by research analysts at Truist Financial from $60.00 to $52.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s price target would indicate a potential upside of 7.62% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group lowered their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday. Needham & Company LLC lowered their target price on Onsemi from $66.00 to $57.00 and set a “buy” rating on the stock in a report on Monday. Craig Hallum lowered their target price on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday. B. Riley lowered their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley decreased their price objective on Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.36.

Onsemi Stock Performance

ON traded up $1.28 on Tuesday, hitting $48.32. 6,177,743 shares of the company traded hands, compared to its average volume of 9,379,168. The company has a 50 day moving average of $60.06 and a 200-day moving average of $67.34. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $20.57 billion, a PE ratio of 11.98, a PEG ratio of 10.27 and a beta of 1.62. Onsemi has a 12-month low of $46.57 and a 12-month high of $85.16.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. Sell-side analysts anticipate that Onsemi will post 3.99 earnings per share for the current year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ON. Nordea Investment Management AB raised its stake in Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after purchasing an additional 82,614 shares during the period. Natixis Advisors LLC raised its stake in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares during the period. Cinctive Capital Management LP acquired a new stake in Onsemi during the 3rd quarter valued at $1,270,000. Blue Trust Inc. grew its holdings in shares of Onsemi by 16.1% during the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Onsemi during the 4th quarter valued at $515,000. Institutional investors own 97.70% of the company’s stock.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.